Buy bigger at Merchant’s Quarter
With soaring house deposits making it even harder for first time buyers to purchase their own home, the first rung on the property ladder may seem more like a leap than a step.
For one purchaser in Stevenage though, it’s been easier than expected with a little help from Crest Nicholson’s exclusive first time buyer scheme, EasyBuy.
30 year old Andrew Dobson, who works in financial services, thought it only normal to assume his first home would be a small one bedroom flat. But after visiting Crest Nicholson’s sales team at Merchant’s Quarter in Stevenage, purchasing a two bedroom apartment was firmly in his sights thanks to the EasyBuy scheme.
“I’d started saving for my first place but knowing how much deposits are at the moment, I expected that I would only be able to afford somewhere with one bedroom,” said Andrew. “As a London commuter I was looking for somewhere within easy reach of the city, so when I heard that the incentive at Merchant’s Quarter – which is near to Stevenage’s train station - could allow me to buy bigger, purchasing there was a no-brainer!”
The EasyBuy scheme allows first time buyers to own 100% of their home but only pay 80% of the price upfront. Unlike other incentives, there is absolutely no rent to pay or interest accrued on the outstanding 20% of the property’s equity for the first five years. The outstanding loan amount is paid back as a percentage of the property’s open market value at any time up to resale or after 10 years, whichever is sooner.
“The development and the incentive together was an opportunity that I just couldn’t miss out on,” Andrew added. “It’s in a great location for my commute to London and the surrounding area is a relaxing place to come back to after a hectic day in the city. The park is right next door too so there is no lack of outdoor space.
“I was lucky enough to be offered free carpets throughout the apartment as well, so that made me another saving, and with the deposit being so much lower than I thought, I’ve got a bit of money left over to kit the property out how I like.”
Chris Warner, Sales & Marketing Director of Crest Nicholson South commented: “Our EasyBuy scheme at Merchant’s Quarter provides the ultimate opportunity for first time buyers. The current property market is a harsh place for purchasers looking to make their first buy, so it’s important that we provide alternative and affordable solutions. The development is in an ideal location, with London just half an hour away on the train, and playing fields and the Old Town are just a stone’s throw away. We urge prospective buyers to talk to our sales team to find out how they can make the transition to home ownership.”
Merchant’s Quarter comprises a stylish range of 44 one and two bedroom apartments which are currently being sold off-plan. Situated on the tree lined avenue of Sish Lane, Merchant’s Quarter is within walking distance of Stevenage’s affluent Old Town.
The nearby King George V playing fields are perfect for walking, jogging or even just a chance to relax in the sunshine. Also, just a short drive away is the larger Fairlands Valley Park, voted as one of the UK’s top 15 free visitor attractions. Fairlands Valley has many activities on offer including climbing, hiking and a range of water sports for the more adventurous.
Transport links from the site are excellent with junction seven of the A1 (M) within easy reach from Stevenage, whilst the surrounding towns of St Albans, Luton, and Welwyn Garden City are also within close proximity. The mainline station is just over a mile away offering easy routes into London with Kings Cross taking approximately 27 minutes. For international travel, Luton Airport is just eight miles away making business travel and even short European breaks more accessible.
Apartments are currently available to purchase with Crest Nicholson’s EasyBuy scheme starting at £121,560 (full price £151,950) for a two bedroom apartment. For more information, visit the Sales and Marketing suite, which is open five days a week from Thursday to Monday 10am - 5pm.
